Previous experimental and numerical studies on stainless steel (SS) 304 alloy have been mostly focused on the determination of the flow stress behaviour as function of the volume fraction of martensite. The failure behaviour of the alloy is equally important in the impact related applications. No systematic studies have been yet performed on the determination of the damage models of SS 304 alloy in order to simulate its dynamic loading behaviour. In this thesis, the parameters of the Johnson and Cook (JC) flow stress and JC damage equations were experimentally determined for an SS 304 alloy. The determined parameters were then verified and also calibrated by modelling the experimental tests used to extract these parameters. The numerical models were implemented in LS-Dyna. The experimental ballistics tests performed at 800 m s-1 on B4C coated and uncoated SS 304 plates were further simulated in Ls-Dyna using the determined model parameters. Finally, the microscopic studies have clearly indicated the martensitic transformation in the tested alloy and adiabatic heat at high strain rates reduced the extent of the martensite formation. Finally, the fraction of martensite was predicted analytically at different strain rates using the equations from the literature.